Global Cancer Pain Management Market, By Treatment Type (Medications [Opioids/Narcotics, Non-Opioids, Nerve Blocks], Devices or Systems [Electrical Stimulation Devices, Analgesic Infusion Pumps, Neurostimulation Devices, Radiofrequency Ablation Devices], By Disease Indication (Lung Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Blood Cancer, Others), and opportunities and forecast 2020-2027
Cancer Pain Management Market Overview
The global Cancer Pain Management market is expected to rise at a significant rate in the forecast period. Approximately 70.0% of cancer patients could suffer from chronic pain because of spinal cord injuries, 28.0% due to multiple sclerosis, and 8.0% due to stroke. In addition, 75.0% of the patients are projected to complain of a gradual rise in pain with the progression of the disease. Therefore, a growing number of patients experiencing such pain will be boosting the growth of the global Cancer Pain Management market.
Moreover, rising incidences of cancer across the world and increasing healthcare spending are anticipated to propel the growth of the global cancer pain management market. The World Health Organization spells out the need to step up cancer services in low and middle-income countries. WHO warns that, if current trends continue, the world will see a 60% increase in cancer cases over the next two decades. The greatest increase i.e., an estimated 81% in new cases will occur in low- and middle-income countries, where survival rates are currently lowest.
Furthermore, increasing research and development activities rises the range of drugs, as more drugs could mean a rise in demand. This crucial fact is majorly contributing to the growth of the global cancer pain management market.Covid-19 Impact on Cancer Pain Management Market:
In addition, the current Cancer Pain Management Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Cancer Pain Management Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.Cancer Pain Management Market Segment Overview
According to treatment type, Opioids are the largest segment of the market. Opioids are considered to be the most effective way of pain management, while combined pain management therapies and medication are more effective. Additionally, other factors such as technological developments for better alternatives for pain management and favorable government initiatives and funding are significantly taking part in the development of the Cancer Pain Management market.
Moreover, tremendously rising cases of cancer induce healthcare providers to grow focus on their goals of treating cancer and pain management, which is possible to require cancer pain management methods that are specific, efficient, and sensitive. This key factor also fuelling the growth of the global Cancer Pain Management market.
Cancer Pain Management Market, By Treatment Type
- Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
- Nerve Blocks
- Devices or Systems
- Electrical Stimulation Devices
- Transcutaneous Electrical Nerve Stimulation (TENS) Devices
- Neuromuscular Electrical Stimulation (NMES/EMS) Devices
- Others (Electrotherapy Devices, Combination Devices, etc.)
- Analgesic Infusion Pumps
- Intrathecal Infusion Pumps
- External Infusion Pumps
- Neurostimulation Devices
- Spinal Cord Stimulation (SCS) Devices
- Deep Brain Stimulation Devices
- Radiofrequency Ablation Devices
Cancer Pain Management Market, By Disease Indication
· Lung Cancer
· Colorectal Cancer
· Breast Cancer
· Prostate Cancer
· Blood Cancer
· OthersCancer Pain Management Market Regional Overview
In terms of region, North America commanded a major share of the Cancer Pain Management market. This is on account of the presence of leading players, high healthcare spending, and well-established healthcare infrastructure in this region. On the other hand, the market in Asia-Pacific is expected to witness significant growth during the forecast period. Factors such as development in the healthcare facilities and increasing healthcare funding by the governments of several countries like India, China, and Brazil are prilling the growth of the market. Beyond this, rising awareness about cancer and its pain management is further facilitating market development in this region.
Cancer Pain Management Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)Cancer Pain Management Market, Key Players
· Boston Scientific Corporation
· Medtronic plc.